FA for all 4 years

cptofthehouse
Mon, 05 Aug 2019 18:32:16 +0000

Your financial aid is primarily based on your parent’s income from a prior year and current (day you submit the FAFSA) assets. I say primarily, because severe changes in circumstances can allow exceptions. Like death, job loss, illness, for example.

Each year, you do have to complete FAFSA in order to get your new awards. At some schools that use CSSPROFILE in addition, there may be other questions to be answered as well. Your award each year should be very similar to your first year financial aid IF your family financial situation is similar.

If your mother decided to go back to work, your parents got a windfall in income or assets, your sibling started or left college—all of these things can change your financial aid.

Also, most schools expect YOU, the student, to take an increasing responsibility in taking on some of the cost of your college. There is an expectation that you are working summers and/or taking on some part time work during the school year. Your Direct Loan limits are increased a bit. So, it’s likely your Student Contribution expectation will go up somewhat.

The costs of college are likely to go up too though some of it might be covered by increases in aid, some of it also might go into your expected contribution. Upperclassmen housing often is more than freshmen housing on campus has been my observation. But at many schools, students can “beat” the averages by living off campus and taking care of their own meals.

But in short, if your parents’ income fluctuates, so will your award.